Is General Motors Stock Going to $55? 1 Wall Street Analyst Thinks So.
Up almost 28% since the start of the year, General Motors (NYSE: GM) stock has significantly outpaced the S 500 index's 7.1% gain. And the stock's run isn't over yet, at least according to Bernstein analyst Daniel Roeska.
Initiating coverage on GM stock, Roeska assigned a $55 price target and an outperform rating. Based on its current price of $45.94, Roeska's price target implies an upside of nearly 20% for GM stock.
Roeska addresses several points in his initial report on GM stock, according to The Fly. Most notably, he asserts that GM is poised to deliver strong results throughout 2024, providing a catalyst for the stock to rise. Additionally, Roeska is impressed with GM's achievement in generating stronger cash flow, and he expects the company to distribute $4.5 billion to shareholders in 2024.
Source Fool.com